Plastic Healthcare Packaging Market Expected to Reach $48 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Plastic Healthcare Packaging Market," The plastic healthcare packaging market size was valued at $28.6 billion in 2022, and is estimated to reach $48.0 billion by 2032, growing at a CAGR of 5.3% from 2023 to 2032. Plastic healthcare packaging is the process of packaging pharmaceutical products and medical devices using plastic materials. The packaging is used to protect and preserve the quality of healthcare products from contamination, damage, and other adverse external factors. Plastic materials such as polyethylene, polypropylene, polyvinyl chloride (PVC), and polyethylene terephthalate (PET) are commonly used for packaging due to their properties such as durability, flexibility, barrier protection, and compatibility with different sterilization methods. 

Factors that drive the growth of global plastic healthcare packaging market size include development of advanced packaging solutions, increase in use of plastic packaging in pharmaceutical industry, presence of plastic healthcare packaging industry, development of innovative medical devices, which requires smart packaging solutions, and rise in acquisitions to expand the packaging business. For instance, in January 2023, Amcor—a global packaging company—acquired MDK—a leading provider of medical device packaging in Asia-Pacific—to expand its healthcare platform. This acquisition aims to help Amcor in expanding its healthcare packaging portfolio, which includes various products such as sterile bags, IV containers, and medication blister packs.

Moreover, plastic healthcare packaging market trends include rise in adoption of smart and advanced packaging and surge in demand for pharmaceutical products and biologics, which require specialized packaging to maintain their potency and efficacy. For instance, plastic packaging materials such as polypropylene, polyethylene, and polycarbonate are commonly used for biologic packaging due to their ability to protect against moisture, oxygen, and other environmental factors.

However, implementation of stringent government regulations and standards for packaging of medical devices and pharmaceuticals hinders the market growth. In addition, plastic healthcare packaging market analysis include the concerns over environment safety due to high deposition of plastic waste in landfills and oceans limit the adoption of plastic packaging, thus negatively impacting the market growth. According to the World Health Organization (WHO), in February 2022, it was reported that around 144,000 tons of waste is generated during the pandemic in the form of syringe, needles, and safety box. 

The global plastic healthcare packaging market share is segmented into product type, material, industry, and region. On the basis of product type, the market is classified into bottles packaging, vials, pouches, and others (container, jar, cap & closure, tubes, blister packaging, and syringe packaging). As per material, it is fragmented into polyethylene, polypropylene, polyethylene terephthalate, and others (PVC, polyolefin, and polyester). Depending on industry, it is fragmented into pharmaceutical packaging and medical device packing. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA). 

By product type, the bottles packaging segment dominated the market in 2022, and is expected to grow at the fastest rate during the forecast period. This is attributed due to increase in demand for bottles packaging from the pharmaceutical industry. 

Depending on material, the polyethylene segment led the market in 2022, and is anticipated to register fastest growth during the forecast period due to its versatility, durability, and chemical resistance of polyethylene.

As per industry, pharmaceutical packaging was the prominent segment in 2022 and is expected to dominate in the coming future owing to rise in demand for pharmaceutical packaging solutions and increase in demand for unit dose packaging.

Region wise, North America garnered the highest plastic healthcare packaging market share in 2022, and is expected to maintain its lead during the forecast period, owing to increase in use of plastic in the healthcare industry, easy availability of plastic raw materials, development of reusable plastic packing products, and presence of plastic healthcare packaging industry. However, Asia-Pacific is expected to exhibit fastest growth during the plastic healthcare packaging market forecast period, owing to rise in demand for healthcare products and packaging solutions, surge in demand for sustainable packaging solutions, increase in healthcare expenditure, and development of the pharmaceutical & medical device industries.

The COVID-19 pandemic has significantly impacted the plastic healthcare packaging market, owing to increase in demand for medical supplies, such as personal protective equipment (PPE) and disposable medical devices, which are packaged in plastic materials. In addition, the demand for single-use, disposable packaging materials increased during the pandemic.

Key Findings of The Study

• By product type, the bottles packaging segment dominated the market in 2022.
• On the basis of material, the polyethylene segment led the market in 2022.
• Depending on industry, pharmaceutical packaging was the leading segment in 2022.
• Region wise, North America was the largest contributor toward the growth of the global market in 2022. However, Asia-Pacific is estimated to register the highest CAGR of 6.2% during the forecast period.